Monthly Archives: January 2013

Crisis in 1861-63 III

There’s quite a few interesting passages in the 1861-63 Manuscripts outlining how crisis is endemic to the specifically capitalist form of social labour. One of the reasons is neatly outlined in the following: The possibility of crisis, which became apparent … Continue reading

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Crisis in 1861-63 II

Also prescient: In the crises of the world market, the contradictions and antagonisms of bourgeois production are strikingly revealed. Instead of investigating the nature of the conflicting elements which erupt in the catastrophe, the apologists content themselves with denying the … Continue reading

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Crisis in 1861-63.

Rather prescient I reckon: When speaking of the destruction of capital through crises, one must distinguish between two factors. In so far as the reproduction process is checked and the labour process is restricted or in some instances is completely … Continue reading

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Marx Contra Subjective Theories of Value.

A good quote that I’m surprised I haven’t seen to criticize the old chestnut that the labour theory of value was superseded by modern economic theories: It must never be forgotten, that in capitalist production what matters is not theimmediate … Continue reading

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Marx on Ricardo III.

This bit nicely distinguishes draws out the differences between Marx and Ricardo’s conceptions of labour qua capital: Instead of labour, Ricardo should have discussed labour capacity. But had he done so, capital would also have been revealed as the material … Continue reading

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Marx on Ricardo II

Its all about social form and shit: This whole BLUNDER of Ricardo’s and the consequent erroneous exposition of rent, etc., as well as the erroneous laws about the rate of profit, etc, spring from his failure to distinguish between surplus … Continue reading

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See what all the hype is about.

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Concise note by Marx on the genesis and functional importance of credit to capitalist valorization: “Credit therefore is the means by which the capital of the whole capitalist class is placed at the disposal of each sphere of production, not … Continue reading

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Marx on Ricardo.

Surprised I haven’t come across this in the value form literature, more proof that Marx is not a neo-Ricardian: “The latter reproach arises from Ricardo’s inadequate presentation, because he does not even examine the form of value — the particular … Continue reading

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Marx on Individuals.

“Apart from the barrenness of such edifying reflections, they reveal a failure to understand the fact that, although at first the development of the capacities of the human species takes place at the cost of the majority of human individuals … Continue reading

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